Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1887-04-09
THE b. & o. Deal.
PARTICULARS AS TO THE PRICE, PAYMENTS
MADE AND To BE MADE.

MADE AND To BE MADE.
The proposed Baltimore and Ohio deal
is in such shape now that the Enquirer
can announce without fear of contradic-
ton that 1t will be fully consummated be-
fore May |.
The Ives Staynor party and associates
will obtain control of the property with
out the least shadow of q doubt, The
price to be paid is SIG, 900, 900 or 5000 per
share for so, 00U shares of the capital
stock of the company. OF the agreed pur-
chase price, 81 100000 has already been
paid; $4,000, 900 is to be paid before the
26th Of this month, and the remaining
$4,000 900 is to be paid at the rate of
$1,000, 900 per year until the debt is liqui-
dated, the deferred payments to bear
interest, it is understood, at the rate Of 5
per cent
As is well known, this Ives-Staynor
syndicate is the one that secured the con-
trolling interest in the Cincinnati, Hamil-
! ton and Dayton Road some time ago. and
has since purchased the Dayton and Iron
| ton Narrow gauge and the Cincinnati,
Wabash and Michigan. The Dayton and
IrOntOn. which was part of the old
Toledo, Cincinnati and st. Louis system,
was changed to standard gauge yester-
| day by its new owners.
When the deal is completed it is pro-
posed to build piece of road from Par
kersburg or point on the Cincinnati,
| Washington and Baltimore Road to a con-
neCtiOn with the Dayton and IrOntOn, thus
making nearly q straight line through to
! DAYTON, and avoiding the heavy grades on
the Cincinnati, Washington and Baltimore
Road.
The Baltimore and Ohio people for
merly had pretty secure hold on the
Cincinnati, Washington and Baltimore,
through the ownership of bonds of that
company but as Mr.. Garrett parted with
his holdings of Cincinnati, Washington
and Baltimore bonds to English parties
some time ago, it is more than likely that
the line from Parkersburg to connection
with the Dayton and Ironton will be
built, rather than the one from point on
the Cincinnati, Washington and Baltimore
to q point on the Dayton and IrOntOn, as
the Cincinnati, Washington and Baltimore
people will, without doubt, object to q
diversion of the through traffic from their
line to the Dayton and Ironton. 1t is
also proposed to build link from Dayton
over to Eaton on the Cincinnati, Richmond
and Chicago Division of the Cincinnati,
Hamilton and Dayton. A line to St.
Louis is contemplated, and it will most
likely be the Indiana, Bloomington and
Western, in which COrbin and Sully are
| largely interested, that will take the st.
Louis business west from Columbus,
Ohio, and Indianapolis, Ind. From st.
Louis west the Atchison interest is to be
in the front rank. From Philadelphia to
New York, COrbin and Sully are to supply
the link by entering into traffic arrange
ment with the new system on the part of
the Philadelphia and Reading Road.
The appointment last week of W. NJ.
Clements as general manager of the Balti-
more and Ohio lines east of the river and
of Captain W. W. Peabody to the general
manageTship of the trans-Onio lines was
thought by many TO indicate that all deals
looking to a transfer of the controlling
interest of the Baltimore and Ohio prop
erty were of, but such is not the case.
As the Baltimore and Ohio people own
a One-third interest in the Central Union
Depot here, Cincinnati, Hamilton and
Dayton passenger trains will doubtless be
running into that depot after the con-
summation of the deal, which will be a
convenience to the large Communication
and suburban travel which uses the Gin
ciunati, Hamilton and Dayton Road.
Under the terms of the deal the Baltimore
and Ohio is to guarantee an per cent.
dividend on the common stock of the
Cincinnati, Hamilton and Dayton and
per cent. on the preferred stock.
This last pointer will be good news to
Cincinnati financial circles. At all times
there is large surplus of capital seeking
investments here, and no one familiar
with local investments can but acknow
ledge the lamentable lack of undoubted
dividend paying non-taxable securities,
especially of stocks the dividends on
which are made certain by strong guar
antee. In consequence of this limited
list of securities, stocks rule excessively
high in the market, bank stock especially
yielding on the average but scsnt per
cent. on their cost. The list will now,
however, be increased by the guaranteed
stock of the Cincinnati, Hamilton and
Dayton Cincinnati Enquirer. ~